Investment objective & strategy
As of Feb. 25, 2026 · prospectusStrategy. The Fund is classified as a non-diversified fund, as defined in the Investment Company Act of 1940, as amended (the 1940 Act), which means that it may invest more of its assets in fewer issuers than diversified mutual funds. From time to time, the Index may become diversified. During those times, the Fund will continue to track the performance of the Index, but the Fund will retain its non-diversified status even if its holdings become diversified. The Fund is classified as a non-diversified fund, as defined in the Investment Company Act of 1940, as amended (the 1940 Act), which means that it may invest more of its assets in fewer issuers than diversified mutual funds. From time to time, the Index may become diversified. During those times, the Fund will continue to track the performance of the Index, but the Fund will retain its non-diversified status even if its holdings become diversified.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BERKSHIRE HATH-B | — | $156.91M | 11.59% |
| JPMORGAN CHASE and CO | — | $141.08M | 10.43% |
| VISA INC-CLASS A | — | $90.44M | 6.68% |
| MASTERCARD INC CL A | — | $72.24M | 5.34% |
| BANK OF AMERICA CORPORATION | — | $57.27M | 4.23% |
| GOLDMAN SACHS GROUP INC | — | $45.17M | 3.34% |
| WELLS FARGO & CO | — | $43.82M | 3.24% |
| MORGAN STANLEY | — | $35.40M | 2.62% |
| CITIGROUP INC | — | $35.28M | 2.61% |
| AMERICAN EXPRESS CO | — | $28.98M | 2.14% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity MSCI Financials Index ETF · FNCL | 92% | 0.08% |
| State Street(R) Financial Select Sector SPDR(R) ETF · XLF | 90% | 0.08% |
| PROFUND VP FINANCIALS | 86% | 1.68% |
Advisers
| Firm | Role |
|---|---|
| Mellon Investments Corporation | Sub-adviser |
| Jackson National Asset Management, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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